he hate me (#500)

This is my 500th post. So Thought amnesty. u dont have to think - let me entertain u.

Just tell me what u like or dislike about my blog and most memorable post - i think its the people blog, and what the heck, ask me what u want - i may or may not answer. Good day. see u thursday. And excuse the comment below, its for my folks No Slappz regarding the prior post.


Now slappz
McCain believes in enforce existing financial market regulations and not enacting new ones. The there is McCain’s record and involvement in the Keating five - the last big collapse of US financial institutions, that cost taxpayers over $200 billion (in today’s dollars.)

And what is the evidence that it is self correcting? And that is my point, if I don’t like your rating, I can pay someone whose rating I like. THE MBSs were never solid securities, im certain u can agree on that C+ if that.

“Keating used Senator McCain to lobby the Reagan administration successfully to appoint not only Lee Henkel (who then served as Keating’s “mole” on the FHLBB until I blew the whistle on him), but also another individual chosen by Keating. The FHLBB was run by three presidential appointees, so this would have given Keating majority control over the agency regulating S&Ls. The Reagan administration was set to make these recess appointments over the objections of the White House director of personnel, who opposed the appointments because when he called Arizona Republicans to vet the proposed appointments he learned that Keating “had a reputation for buying politicians.”

The only Fallacy of Composition I have observed is malignant McCain saying the fundamentals of our economy are strong yesterday in FL.

McCain promised to ``replace the outdated, patchwork quilt of regulatory oversight.'' During his 26-year career in Congress, McCain has supported proposals to cut, not increase, federal financial regulations.

In 1999, McCain voted in favor of the Gramm-Leach-Bliley banking deregulation act that let commercial banks and investment firms merge for the first time since the Great Depression. And, while he supported the Bush administration's takeover of Fannie Mae and Freddie Mac, McCain says he wants to sell the mortgage finance companies to private buyers.

And it is true, where did JP Morgan get the loot – US tax payers. Y do I say this? Because JPMorgan Chase and the federal governmentt teamed up on the bailout of Bear Stearns, a last-ditch move to save the investment bank. It calmed the market for a few – but such intervention aint SELF CORRECTING JONES.

The FEDS lent (is that a word) JPMorgan $29 billion as an enticement to buy the troubled Bear and its liabilities. As collateral, JPMorgan put u[p $30 billion worth of WORTHLESS mortgage-backed securities and other complex investments, which are basically the most problematic assets on Bear's books. JPMorgan has to repay the Fed loan with interest at the "discount rate," which is currently 2.5 percent.

The risk to the Fed—and to taxpayers—is IF these MBS turn out to b completely worthless, then the Fed would be out the whole $29 billion. Under the terms of the deal, JPMorgan would pony up the first $1 billion in losses.

And about Mr. Chairman Bernanke: He defended this shit, and in April this year folk said "Given the exceptional pressures on the global economy and financial system, the damage caused by a default by Bear Stearns could have been severe and extremely difficult to contain," that is what he told the Senate Banking Committee.

I would go on and wont even touch Cox because he was being considered. Tell me if I am wrong jones? vote

Slacking on your Macking

Maybe its just me, but it seems as if all political has gotten off target. Especially when I look at the Obama campaign. The way I see it there are about 50 days left to the super bowl. He needs to be in the tunnel, screaming and ready to take the field. But for some reason he is slacking in his macking, he aint got his game face on, and unfortunately, he has gotten distracted and taken the bait McCain put in front of him. He has been more focused on Sara Palin, Lipstick, Pigs and waffles than on his own play book.

He even act as if he doesn’t see that that is exactly what the opposition desires, for they aint talked about nothing of substance with any semblance of astuteness to this day. Shit, we, the general public know more about lil momma than John McCain. Now I’m not taking sides but I must give my folk an informed heads up on what may be required.

First, fuck talking about McCain trying to say he for change. Let folk talk, he will eventually put a foot in his mouth. Instead, talk about his record, being a friend of big business; make him one of them, saying he is not the common man like (George W. Bush). The best way to do this is to associate it directly to the economy, specifically the failing Housing market. How can a man with more than 5 houses know what such an experience is like? Make sure that you connect him to this in tangible and political terms. Ask where has he been for the past 2 plus decades when all these problems started? Why historically, has he been against regulation of the Securities Exchange Commission and in support of the hideous accounting practices that hide pertinent information to the common investor (like George Bush)? Point out that he believes the market is self correcting, but query as to how can such be, if the problem we see in housing is due to folks on Wall Street paying people to rate securities as being solid or good when they are not (like George Bush)?

They take unprecedented action to save the Big Financial Institutions like the investment bank Bear Stearns but nothing for the common man. Particularly Securities and Exchange Commission (SEC) Chairman Christopher Cox. One of the men McCain was considering as a VP running mate. Make special note of how the Senate banking Committee asked Cox if legislation or more resources would be needed to prevent future problems such as these from occurring, even suggesting that the credit rating institutions, who are paid by wall street to rate securities (MBS’s), have a inherit conflict of interest, and that he said no, and Fannie Mae and Freddie Mac had to be bailed out like Bear Stearns. Can you say corporate welfare? This is not the common man. No wonder China owns 374 billion of US debt in the form of mortgage loans/debt (I spoke of MBS’s a while back).

True, Mccain got a little game, or else u would not have let Jones campaign buy the rights to the top search engines on key election terms. Jones I’m telling you, ignore the mundane and attack your opponent weakness. His ability to think and side against the common man. I’d even bring up that he was a POW, and that he needs to release to the public that he has been screened for Post Traumatic Stress Disorder, for no one with such should be answering that Red phone at 3am. Now get busy folk, get your game face on and stop slacking in your macking. Just my two cents, that is if you wanna win, and I got more too. vote

My 2 cents (really $11,071.27)

Kelso, to a recent post in which I wrote regarding male sartorial splendor, made a comment supporting not only the necessity of having a passport, but also an off shore account. Now I do have both and won’t tell you what country mine s located in, but I will say Seychelles (in picture) is a great place to have one being a few hours flight from Durban, South Africa (Yawl need to go there its beautiful).

Now Jones, your folk here aint the richest man in the world, in fact I am one of the poorest. With that said, over the past two months i done lost a lot of loot. I kind of hoard loot and try to stay away from spending it if I do not have to, especially if I aint got it.

The current credit crunch is hitting everybody nowadays and I am not just talking about the financial institutions. I mean the common man, the banks, Wall Street, Japan, and even Europe. I know people are doing all they can to ameliorate these problems, but suffice it to say, it will be hard to fix when the average person doesn’t have, and has a desire to spend, even when the do not have the money on hand. I feel I have the right to complain about the government practicing deficit spending, but those that do such themselves do not.

What I anticipate next is that Banks and Brokerage houses (one in the same since Clinton abrogated Glass-Stegall), which have already been hit hard by the sub prime lending practice and home mortgage losses, are not going to being seeing the good times any time soon. Since August of last year, the U.S. government has given financial institutions nearly a trillion dollars and things have yet to improve. Now the Federal Reserve Bank is getting into the act and is talking bout allowing banks/brokerage houses to exchange mortgage-backed securities (MBSs) for about 200 billion in Treasury bonds. Talking about shooting dice, I mean, the have never accepted MBSs as collateral before – not to my knowledge. This will make the FR a holder of long-term credit risk. I figure the FR doesn’t need t do this for it is the financial and lending institutions that need to make corrections on their practices and get their shit tight.

We already see our trade deficit increasing. Especially as it relates to exports as a function of being offset by higher oil prices. It increased almost $60 billion last month alone, and the increase specifically with China seems to grow more and more each day.

So in summary, it is the value of the dollar that is essential to a strong economy in the US. I do not like losing money, not even in the washing machine, and over the last 60 days I have lost $11,071.27. My problem is if I can see this, not as an economists, why can’t our government? vote